Norway's producer prices plunged 9.4 percent year-on-year in August 2019, following a 8.6 percent drop in the previous month. That was the steepest yearly fall in producer prices since May 2016, as prices declined for extraction and related services (-21.3 percent vs -19 percent in July); energy (-20.8 percent vs -19.7 percent); electricity, gas and steam (-6.7 percent vs -8 percent); and manufacturing (-0.4 percent vs -0.9 percent). On a monthly basis, producer prices decreased 0.3 percent in August, after a 1.2 percent drop in July. Producer Prices Change in Norway averaged 5.77 percent from 2000 until 2019, reaching an all time high of 33.90 percent in August of 2008 and a record low of -18.70 percent in November of 2001.
Producer Prices Change in Norway is expected to be -6.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in Norway to stand at 1.40 in 12 months time. In the long-term, the Norway Producer Prices Change is projected to trend around 2.20 percent in 2020, according to our econometric models.